Meet Amaka Onwughalu, First Female Chairman at Fidelity Bank
Fidelity Bank Plc, a mid-size Nigerian lender established 37 years ago, has appointed Amaka Onwughalu as its first female chairman following the retirement of Mustafa Chike-Obi on 31 December, 2025.
The bank said on Friday that under Chike-Obi’s chairmanship, it recorded “significant growth across key financial indices” as he led the board to ensure “the successful execution of the bank’s strategy and achievement of key milestones in line with its long-term vision”.
“The board and nanagement seize this opportunity to express sincere appreciation to Mr. Mustafa Chike-Obi for his outstanding contributions to the growth and development of the Bank during his tenure on the board,” it said in a statement.
Onwughalu, whose appointment took effect on 1 January, joined the Fidelity Bank’s board as a non-executive director on 17 December, 2020.
Prior to her appointment as board chairman, she served as chairman of the Board Credit Committee and Board Committee on Bank Capitalisation and Member of the Board Finance and General-Purpose Committee; Board Remuneration Nomination and Governance Committee; and Board Risk Management Committee, which she also previously chaired, according to the statement.
“The board is confident that Mrs. Amaka Onwughalu will lead the Board in the continued successful execution of its strategy. The board is also pleased with the succession arrangements for the role of board chairman, which attests to the bank’s high governance standards,” the bank said.
Onwughalu has over 30 years’ banking experience including over 10 years in executive management in various financial institutions, with proven expertise across diverse segments including commercial banking, retail banking, treasury management, banking operations and corporate banking, according to the statement.
“She served in executive management positions in different institutions and was the former group managing director of legacy Mainstreet Bank Limited where she led the successful execution of a seamless integration of the bank with Skye Bank Plc where she served as deputy managing Director until her retirement in July 2016,” it said.
Currently the chief executive officer of Blueshield Financial Services Limited, she holds a BSc Degree in Economics from the University of Buckingham, an MSc Degree in Corporate Governance from Leeds Metropolitan University, United Kingdom and an MBA from the University of Port Harcourt, Nigeria.
She has attended leadership, executive and business development programmes on diverse subjects at institutions including the Executive Business School, INSEAD, France; IMD Business School, Lausanne, Switzerland; Judge Business School, University of Cambridge; Columbia Business School, USA; Institute of Directors, Nigeria; Stanford Graduate School of Business School, USA and Harvard Kennedy School, USA.
